Perform the last market from Dogecoin In addition to the increasing concerns About the dull power of the Mimi currency sector. Over the past 24 hours, the M -currency has decreased by approximately 4 %, prompting its price to less than $ 0.16 for the first time since April. This slide is now The declining direction extends for a month, During it, Dogecoin decreased from $ 0.23 until the time of writing this report.
Dogoin price slides to less than $ 0.16
Multiple support levels have been hacked throughout the way to the last Dogecoin collapse less than $ 0.16, including $ 0.21 and $ 0.18. It is worth noting that the decrease in the prices of Dogecoin may intensify in the past two days, causing it to decrease in the maximum categories of the market and exceeded Tron. At the time of writing this report, Dog publishes losses of about 36 % in a 30 -day time frame.
This last correction is not just an event for Dogecoin, but it reflects A wider decrease in The entire encryption industry. Bitcoin’s side trading has proven near 104,000 dollars to 106,000 dollars significantly on Altcoins, and Dogecoin has proven particularly vulnerable. Moreover, Hamas has also played the faded Mimi coin also a role, with other MIM coins like Shiba Inu and Pepe by 30 % in the past thirty days.
What is the next for a fever?
Now that Dogecoin has been officially traded less than $ 0.16 again, expectations are increasingly turning into calm. Technical analyst Ali Martinez, who was published on the social platform x, was Previously indicated The importance of the previous price range of Dogecoin is between $ 0.16 and $ 0.22.
As the analyst noted, the daily closure outside this price range will indicate the next main directional step, which can be as much as 60 % in either direction. This signal has now been run to the negative side movement. According to Martinez, this breakdown can pave the way for a 60 % sharp correction if the sale pressure increases. The visible symmetrical triangle style on the daily chart, which once was a neutral monotheism sign, has now led to a distinction.
From a technical perspective, this breach nullifies the previous support to the range and opens negative goals of $ 0.088, an unprecedented level since the early stages of the Doug Rost in August 2021. Fibonacci levels also enhance this outlook, with the next important support that sits about $ 0.13. Unless Dogecoin is able to witness a rapid recovery exceeding $ 0.16 in the coming days, its price may go towards a DeclineOne can redefine its location in the current market cycle.
However, ETF DOGECOIN hopes are still active, but have so far failed to compensate for the weight of the declining prices. according to Bloomberg Intelligence James SEYFRART analyst SEC Approval on Spot Dogecoin ETF is now about 90 %. Only Litecoin, Solana and XRP have a 95 % higher approval chance. At the time of this report, Dog is trading at $ 0.1565.
Distinctive image from Dall.e, Chart from TradingView.com
Editing process For Bitcoinist, it is focused on providing accurate, accurate and non -biased content. We support strict resource standards, and each page is subject to a diligent review by our team of senior technology experts and experienced editors. This process guarantees the integrity of our content, importance and value of our readers.
